Rush Enterprises (NASDAQ:RUSHA) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also recently issued reports on RUSHA. ValuEngine cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BMO Capital Markets reissued a “market perform” rating and issued a $50.00 price objective (up from $42.00) on shares of Rush Enterprises in a research note on Monday, October 30th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Stifel Nicolaus increased their price objective on shares of Rush Enterprises from $41.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, October 30th. Finally, Buckingham Research began coverage on shares of Rush Enterprises in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $40.00 price objective for the company. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $46.00.

Shares of Rush Enterprises (RUSHA) opened at $49.03 on Friday. Rush Enterprises has a twelve month low of $29.68 and a twelve month high of $54.11. The company has a market cap of $1,948.68, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.55.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Wednesday, October 25th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. equities research analysts predict that Rush Enterprises will post 2.07 EPS for the current year.

Rush Enterprises declared that its board has approved a stock buyback plan on Thursday, November 30th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, SVP Scott T. Anderson sold 12,144 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total value of $616,429.44. Following the completion of the sale, the senior vice president now owns 3,600 shares in the company, valued at approximately $182,736. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James E. Thor sold 24,200 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $48.70, for a total transaction of $1,178,540.00. Following the completion of the sale, the senior vice president now owns 39,032 shares of the company’s stock, valued at approximately $1,900,858.40. The disclosure for this sale can be found here. Insiders have sold 73,982 shares of company stock valued at $3,747,332 in the last quarter. 11.19% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Castleark Management LLC purchased a new position in Rush Enterprises in the 2nd quarter worth about $8,598,000. Vanguard Group Inc. increased its stake in Rush Enterprises by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock worth $109,302,000 after buying an additional 230,463 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in Rush Enterprises in the 2nd quarter worth about $6,864,000. ClariVest Asset Management LLC purchased a new position in Rush Enterprises in the 2nd quarter worth about $5,470,000. Finally, JPMorgan Chase & Co. increased its stake in Rush Enterprises by 17.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 799,150 shares of the company’s stock worth $29,712,000 after buying an additional 118,386 shares during the period. Hedge funds and other institutional investors own 76.37% of the company’s stock.

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Rush Enterprises Company Profile

Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

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